(an investor who only buys and sells in US markets has very little exposure to foreign exchange, so the fluctuation of the US Dollar may go unnoticed to you.)Back to my point... the value of the US Dollar rises and falls, but the paper it is printed on wears out and must eventually be taken out of circulation and replaced by another bill.

I’m guessing if yes, the logic is that many self-directed investments don’t fluctuate much like investments in the stock market do daily.

I would ask how long they have been working as a foster parent and how much their income fluctuates from year to year. 

You didn't mention it but if you plan on leaving California in any time under 5 years, then buying in a market that has large fluctuations could leave you trapped and with less options for an exit. 

The rising rates can cause some lenders potential harm if not managed correctly though, so this market fluctuation means it's even more important to underwrite the hard money lender that you invest with to make sure they aren't in a bad position.Good luck!

It was only a $65K note but I have to honestly say in the last 20 years I also made the adjusted payments never going into negative amortization and my rents always covered the debt service, despite rate fluctuations from 1988 to present.

Refinancing is an option, but it doesn't solve the rate fluctuation problem.One very good solution is to seek new product you can purchase subject-to and learn how to mitigate as much risk of the note being called as possible.

Check the comps on the resale, normally condos are a weaker marker on a sale than SFH and prices can fluctuate widely, since the prospective buyers are fewer.

It's properties with 5 units or more that would normally require a commercial or portfolio loan product.The interest rate you can get is influenced by your credit score, and also by the market, which fluctuates over time.

Personally, I never asked for records to see what the vacancy rate is because I (you) need to know what the market is like before you buy since the vacancy rate is totally different depending on who and how the property is managed and the vacancy rate tends to fluctuate during different periods throughout the year.